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Here’s how 403(b) and 401(k) ... of the public sector and some tax-exempt organizations may also have access to a supplemental savings plan in the form of the 457(b) account. The 457(b) ...
A 457(b) is similar to a 401(k) ... State and local government employers rarely provide matches on 457(b) plans to employees. With 401(k) and 403(b) plans, the annual contribution limit applies ...
Governmental 457 plans may be rolled into other types of retirement plans with few restrictions beyond the normal ones for any other type of employer-provided plan, which includes separation of service or disability. This includes other gastro-401(k) and 403(b) plans and also IRAs. IRAs have much greater flexibility in withdrawal and conversion ...
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403(b) - Similar to the 401(k), but for educational, religious, public healthcare, or non-profit workers; 401(a) and 457 plans - For employees of state and local governments and certain tax-exempt entities; Roth IRA - Similar to the IRA, but funded with after-tax dollars, with distributions being tax-free
In the United States, a 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organizations, and self-employed ministers in the United States. [1]
It’s like a 401(k), except for a different type of employee.
A 403(b) plan is a retirement savings plan available to employees of public schools, churches and certain 501(c)(3) nonprofit organizations. Named after the section of the IRS code that governs it ...